PRESS RELEASE & BUSINESS REVIEW – 2017 ANNUAL RESULTS

Leading property developer in France 

• Consolidated pipeline: Potential value of €17.1 billion (+17%) (essentially controlled in the form of options)
• Leadership in large mixed-use projects: 9 projects underway (above 750,000 m²)
• New orders (Residential & Office): €3.7 billion (incl. tax) (+29%)
• Backlog (Residential & Office): €4.2 billion (excl. tax) (+28%)

Residential 

• New orders: €2.6 billion (+15%) i.e. 11,189 units (+12%) - New orders tripled in 4 years

Office 

• New orders: €1.1 billion (+80%)
• Pipeline Investment: €3.1 billion (€0.9 billion in Group share)

Retail 

• Rental income: +3.7% (+3.9% like-for-like)
• Portfolio: €4.7 billion (€3.1 billion in Group share)
• Pipeline: €3.4 billion (€2.9 billion in Group share)

Results 

• Revenue: €1,940 million (+22.6%)
• Recurring net result (FFO): €256,3 million (+33.5%) i.e. €16.42/share (+20.7%)
• Diluted Going Concern NAV: €2,793 million (+16.5%) i.e. €174.0/share (+9.1%)
• Dividend: €12.50/share (+8.7%)
• LTV: 36.1% (-110bps)